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Building Entrepreneurial Literacy:
Small Groups, Large Rewards
John Kennedy Haner, University of California, jhaner@writing.ucsb.edu
ABSTRACT
Entrepreneurial literacy projects, such as the development of a business plan by a small
group of students, allow groups of students to share in a cooperative learning engagement
that facilitates growth in multiple categories essential for sound business thinking:
creative development, competitive strategic analysis, strategic communication, and
organizational management. Along with cognitive development, students advance
practical skills in business communication: speaking, writing, graphic design, research,
small-group communication, and intercultural communication. This paper discusses how
to generate, through business plan projects, the entrepreneurial and intercultural literacy
that will lead to holistic growth in student communication competence.
INTRODUCTION
A clear imperative for maintaining a vigorous national economy is the capacity to bring
new ideas to a successful birth in the marketplace. New ideas, new business models, new
kinds of products, new ways of generating clientele, and new avenues toward market
access, all play vital roles in creating new economies and new jobs. For students,
fostering entrepreneurial literacy can lead to raising the bar on the objectives of their
careers, by giving them fuel for designs on capitalistic prosperity, which serves as a
strong motivation to develop the cognitive and practical competencies necessary for
professional success.
Entrepreneurship is a field governed by the expression: where there is a will there is a
way. However, if there is no way then there is no use for will. People can only walk down
the paths they are able to perceive. This is not always a limitation of the ability to
imagine what is possible, but of the ability to perceive the next steps along the path. This
is where education can play an integral role in fostering a culture of possibility that leads
to entrepreneurial ingenuity.
Everyone has ideas about new businesses. The trouble is how few seem to know what it
takes to turn an idea into a project and to take a project into its initial stages:
to articulate a business concept in a way that is meaningful to potential investors,
to map out a plan for getting a project off the ground,
Proceedings of The Association for Business Communication 7th Asia-Pacific Conference, March 27-31 2007
Copyright 2007, Association for Business Communication
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to validate the profitability and viability of a concept,
to perform credible analyses of risks and opportunities within competitive
environments
to make a successful pitch to a potential investor.
The role of education, therefore, should be to help students understand that
entrepreneurial efforts are possible, that there are fairly consistent processes for starting
new ventures, and that those processes require a fairly consistent complex of skills and
knowledge as well as the communication competency necessary to convince others, both
in writing and speech.
THE BUSINESS PLAN AS COURSE PROJECT
The business plan as a course project is generally a 20 to 60-page document that utilizes
graphic media to create a highly polished visual and written presentation of a business
concept. Commonly the business plan project will be realized in a 10-20 minute student
PowerPoint presentation that is targeted to an audience of venture capitalists. In a manner
that is credible and persuasive, students will be required to communicate:
the general business model
the specific product or services
the marketing goals and strategy
the means of access to customers/clients
the company organization of divisions and personnel
the financial risks and rewards
the competitive advantages and weaknesses
a thorough financial plan
the investment opportunities
An Ideal Group Project
Because the business plan requires such a wide variety of capabilities, groups are
required to rely on individual strengths to perform specialized functions with the
objective of creating a cohesive, detailed presentation and document . In this way it
mimics a real world scenario where groups rely on individual strengths and individual
specializations to create efficiency. Equally importantly, the sharing of strengths allows
groups to overcome individual weaknesses. All of this creates an excellent format for
exploring issues of interpersonal and small-group communication, including the handling
of conflict.
A Learner-Driven Project
Due to the nature of the project, students handle the bulk of all effort outside of class.
Since the teacher is not able to guide students in the completion of most aspects of the
business plan, it is incumbent upon the students to learn on their own how to complete
their required sections of the plan. Students follow their guidebooks, and they spend a lot
Proceedings of The Association for Business Communication 7th Asia-Pacific Conference, March 27-31 2007
Copyright 2007, Association for Business Communication
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of time in the library, or online, researching answers to questions that arise along the way.
A teacher can give general guidelines, schedules, objectives, and examples, but the
majority of the work, by necessity, must be left to the initiative of students.
A Project Easily Administered and Easily Assessed
A group project of this size helps to streamline assessment obligations for large classes.
Furthermore, since each group will have a project manager, the teacher can serve
something akin to a corporate CEO who designates goals, timetables, and objectives, but
who leaves the details to the project managers to administer. This not only diminishes the
content obligations of teachers, but also creates efficient lines of communication via
project managers.
THE VALUE OF THE BUSINESS PLAN AS A “HOLISTIC”
COMMUNICATION PROJECT
It is often the practice of “business communication” courses to break down the categories
of communication into independent specializations (e.g. public speaking, interpersonal
communication, intercultural communication, visual communication, mass
communication, marketing, technical writing, and so forth). Although this practice is
necessary, it is also important to remind students that “communication” is, in fact, the
sum of its parts and that all “parts” conspire to achieve or to undermine the objective of
the communication. Failure in any aspect could result in the failure of the whole. The
business plan is a great example of a “holistic” communication project, as it requires
achievement in a vast range of communication categories, including:
audience analysis
small group communication
public speaking
intercultural communication
marketing
visual communication
technical and persuasive writing
leadership communication
Failure in any aspect could easily undermine the project as a whole. Consequently the
project requires commitment to development of communication competency across the
spectrum of categories, even if those categories are not specifically addressed in course
lectures and readings. Additionally, such a broad range of categories allows for great
flexibility in curricular emphasis, depending upon the objectives of the course and the
expertise of the teacher. For example, a teacher with a background in marketing could
easily make marketing a dominant emphasis in the project, and the same could be said of
nearly any aspect of the business plan and presentation. This flexibility is valuable.
Proceedings of The Association for Business Communication 7th Asia-Pacific Conference, March 27-31 2007
Copyright 2007, Association for Business Communication
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HOW THE BUSINESS PLAN PROJECT IS ORGANIZED
Regardless of the number of pages or minutes of the presentation assigned, the business
plan is a substantial project that takes a lot of time to go from initial stages to delivery.
Therefore, the initial stages of the project should be started at the beginning of the term.
Stage One: Explaining the Project
The teacher spends a good deal of time explaining the project, its objectives, and the
schedule of production. It is very useful to go through the workbook with students, and to
give students examples of business plans to give them a conception of the work involved.
It is also important to explain the target audience of the project: potential investors. This
is a necessary starting point for thinking about business concepts. Without audience
analysis, students will typically choose small, “lifestyle” businesses that are unlikely to
appeal to venture capital.
Stage Two: Establishing Groups and First Tasks
Groups should be established at the beginning of the term, usually consisting of 4-5
members. Once groups are established, they need to decide on a project manager as well
as the specific roles for each member. Roles should be established based on who is best
suited to produce the various sections of the business plan (e.g. Marketing, Operations,
etc.).
Each group needs to establish the business concept quickly. As a first task, it is a good
idea to assign each student to bring in three unique business concepts, with explanations
and examinations of each.
Stage Three: Establishing a Schedule for Production
Since this is largely a student-driven project, it is good to let groups establish their
schedule of production of the plan. This makes them responsible for creating a
manageable schedule, which mitigates student negativity and encourages student
motivation. The schedule is a good assigned task that incorporates a progress chart (e.g a
Gantt chart) that illustrates their means of meeting milestones.
Stage Four: Monitoring Student Progress
Project managers should play a strong role in monitoring and communicating student
progress. This helps to create efficient communication to the teacher. Students should be
expected to provide evidence of meeting teacher-assigned milestones, such as the
production of first drafts of various sections. A progress report can be a useful
assignment.
Stage Five: Preparing for Completion
The final weeks of the term are devoted to pushing the projects toward completion.
Students should be focused on completing a draft of the entire business plan, as well as
the visuals for the presentation. Once these are completed, they can be analyzed and
Proceedings of The Association for Business Communication 7th Asia-Pacific Conference, March 27-31 2007
Copyright 2007, Association for Business Communication
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feedback can be offered to assist with finalizing the project.
Stage Six: Delivery
Delivery of presentations is likely to occur in the last week or two of classes or can be
scheduled as a final exam. Since students are likely to consider the finalizing of both the
plan and the presentation as separate acts it can be useful to schedule the due dates on
different times. Sometimes teachers have final plans due on the day of delivery, but this
can create a bottleneck of activity for the students that can be eased with staggered due
dates.
TEACHING OBLIGATIONS
Teaching can be largely focused on elements that will be assessed in grading. This gives
the teacher a good deal of flexibility in deciding what content to deliver in classes and
how that will shape the final product.
However, there are some general categories that should be addressed if students are to
create a comprehensively sound project:
Target audience of venture capital investors: the kinds of businesses supported
and their investment expectations
Small-group dynamics, including distribution of workload, handling of
interpersonal conflict, and establishing group priorities
Development of progress plans and progress reports
Information literacy: how to research content for business plans
Solid page design for a large documents, and visuals for business presentations
Revision of the business plan document
Preparation of presentations, including guidance with presentation choreography
and development of professional stage presence
Many libraries provide course consultation in information literacy. Coordinating with
librarians to help students with issues of research pertinent to starting a new business is
extremely helpful.
ANTICIPATED PROBLEMS
A teacher can expect to contront several areas of difficulty in the production of the group
business plan project.
Resistance to a Learner-Driven Format
Many students are accustomed to having precise assignment instructions , methodically
laid out by a teacher, which can be useful for many kinds of projects. However, because
every business is different, every plan must also be different. It is not realistic to think
that a teacher can micro-manage production of the plan and produce good results.
Proceedings of The Association for Business Communication 7th Asia-Pacific Conference, March 27-31 2007
Copyright 2007, Association for Business Communication
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Small-Group Leadership and Interpersonal Dynamics
Nearly every group will have organizational difficulties that may stem from leadership or
interpersonal issues. Addressing interpersonal communication can assuage all of these
issues, so it is useful to designate at least one lesson to addressing such concerns.
Technical Roadblocks
Generating financial statements, risk assessments, or the graphic design of the document
and presentation can create technical challenges for students and a desire for expert
consultation that the teacher may not be able to provide. Students will have to do their
best to find answers from library and online resources, and other teachers or staff
members who may be willing to answer specific questions. It can be useful to establish
relations with colleagues from other disciplines (such as Accounting or Finance) for the
purpose of getting challenging questions answered.
Research Roadblocks
Research presents daunting challenges. Market analysis, operational costs, and
manufacturing processes are a few of the examples of information that may be difficult to
find. The only answer to these kinds of challenges is for students to do the best they can
to support their claims with the best information available. Lacking detailed information,
they should rely on their most conservative estimates and assumptions.
ALTERNATIVE APPROACHES
Although two alternative approaches stand out as useful efforts, any component of the
business plan can be singled out for emphasis to create a significant lesson for students
learning. Market analysis and marketing strategy are just two of the components of the
business plan, for example, but it is easy to imagine ways for this to become a dominant
lesson Such subsections of the business plan could be emphasized to become dominant
lessons guiding the whole course project, involving complex analysis of many factors.
This flexibility allows the teacher to adapt the project to meet particular course
objectives, whatever they may be, or to exploit teacher expertise. This is particularly
useful when applying the business plan to multiple sections of the same course taught be
a variety of teachers who are likely to have differing professional backgrounds and
consequent expertise.
As an Exercise in Intercultural Communication
The business plan can create an elaborate exercise in intercultural communication and
intercultural interaction. An easy way to do this is to ask students to create a business that
targets an international audience as its primary customer. This task requires a thorough
analysis of the potential problems that may exist for the product or service provided
within another culture. Additionally, students have to analyze persuasive communication
approaches to create marketing communication that works for the target audience, they
must forecast potential distribution problems, and they must analyze the intercultural
challenges associated with personnel management of operations within the target country.
Proceedings of The Association for Business Communication 7th Asia-Pacific Conference, March 27-31 2007
Copyright 2007, Association for Business Communication
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As a Project for ESL Students
As a language-learning project, the amount of growth possible in a project of this kind is
enormous. Even for intermediate-level English speakers, a short business plan can yield
good results. The heavy reliance on peer-partnership creates an excellent vehicle for
lateral learning of language, which is known to be one of the better modes of transference
in language acquisition.
In addition to the two alternative approaches described above, the business plan could be
modified to emphasize a variety of other important components:
Business presentations
Graphic design for visual rhetoric of documents and presentations
Marketing communications
Small group and interpersonal communication
Technical writing
Research for business and marketing
Analysis of market trends, financial forecasts, risks and rewards, and etc.
ADDING REAL WORLD MOTIVATION
Business is competition, and the world of venture capital is by nature highly competitive.
An excellent motivation, therefore, is to create an annual business plan competition that
allows students to compete for honor or prizes with their best work. Furthermore, it is
generally not too difficult to get local business leaders to donate their time to serve as
judges of the contest, and in doing so to give the students the opportunity to present their
business ideas before real investors and managers.
At the Writing Program of The University of California Santa Barbara we have been
lucky enough to host an annual business plan competition that is judged by a panel of
local venture capitalists. We are also lucky enough to have been awarded a grant of
$80,000, by a local businessman interested in promoting entrepreneurial literacy, to be
used to fund annual prizes for students. This grant was achieved through long-term
efforts to cultivate relations with local entrepreneurs in support of a program designed to
advance entrepreneurial literacy amongst university students. Such entrepreneurs seem
very willing to serve as advocates to the youth of the value of entrepreneurship as a
career objective, and are willing participants in the judging of our annual contest, and are
often happy to speak in classrooms and ceremonies. It is fortunate that these successful
professionals know as well as anyone that successful development programs require
proper funding. What is more important, however, is that bringing in such “real world”
advocacy of a course project is a tremendous influence on the motivations of students to
set high standards for achievement on a very difficult project.
Proceedings of The Association for Business Communication 7th Asia-Pacific Conference, March 27-31 2007
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SUMMARY AND CONCLUSION
Student production of a business plan satisfies the criteria of a holistic communication
training activity as well as a project that promotes entrepreneurial literacy. This is an
excellent project for a number of reasons:
It is an ideal group project, as it requires utilization of student specializations to
perform particular roles in a cooperative production.
It helps to generate competency in a wide range of practical communication
capabilities, from research and information analysis to strategic writing and
speaking
It helps to generate competency in business thinking, from risk and competition
assessment to organizational management
It is a project that is largely learner-driven, requiring substantial student initiative
It is adaptable to various timeframes and a variety of specific pedagogical
obligations
It is a project that is easily administered and easily assessed.
The business plan project is a challenging and rewarding effort that has proven to be
manageable for students and teachers alike, while giving students exposure to a wide
variety of the challenges of strategic communication for business purposes. It is a lesson
in language, a lesson in thinking, a lesson in the challenges of multi-media
communication, and a lesson in interpersonal dynamics. The business plan project
addresses hurdles that students must learn to overcome on their own, relying on their
own resources. Students learn what it takes to communicate in writing, speaking, and
through visual media credibly and compellingly, which can help them in all aspects of
their professional lives. Of greater importance, perhaps, is the empowerment that comes
from learning that entrepreneurial efforts are viable career objectives , given the right
business concept and the ability to convince potential investors to take the risk of funding
dreams with a great deal of real money.
REFERENCES
Allen, N., Atkinson, D., Morgan, M., Moore, T., & Snow, C. (1987) What experienced
collaborators say about collaborative writing. Journal of Business and Technical
Communication, 1, 70-90.
Altbach, P. (2001). Universities and globalization: Critical perspectives/ the globalization
of higher education, Journal of Higher Education, 72, 254-256.
Arkebauer, J.B. (1995). The McGraw-Hill Guide to Writing a High-Impact Business
Plan: A Proven Blueprint for First-Time Entrepreneurs. Boston, MA: Irwin
McGraw-Hill.
Proceedings of The Association for Business Communication 7th Asia-Pacific Conference, March 27-31 2007
Copyright 2007, Association for Business Communication
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